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I don't believe that would happen since the Great Depression in the 1930s was a lesson learned...I hope

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We didn't learn from the Great Depression, most of the people who lived through it have died, and this present generation is too busy watching MTV and American Idol to pay attention to what is happening to the economy. I keep hearing people say we're headed into a recession, but we're pretty much already in one, it just hasn't got bad enough for most people to wake.

Not if Ron Paul has anything to say about it . This is why we need to change our philosophy asap.

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Ron Paul is the best weapon we have, the biggest challenge now is getting him in the White House.

You don't need a depression to be in a world of hurt. We haven't had a severve recession since 1980-1981 where interest rates where raised to 20% and unemployment was 10.8%

Local government does not have it's spending under control and guess what? The economy gets worse and they raise your property taxes. If you check the news out you will see that local government is announcing a lot of layoffs.

Ummmmmm, I am involved in finance in the US and I am not thinking we are heading to a recession despite the fact that the media has been reporting that we are ......since Carter left office almost 30 years ago! Maybe if we elect a Clinton and there isn't a dot com bubble propping up the economy we may see a bit of a recession but other than that the US economy will just chug along....

So "everyone" is at least everyone minus one or just a few media chicken littles.

Some of us are glass half full. Some of us are glass half empty. And then there are some of us who donâ€™t even notice the glass. Instead, we watch the sky, waiting for it to fall.

Recent warnings from financial wizards that a 1930s Depression-era recession is on the horizon for the United States have cropped up in national business publications, likely leading the average investor to wonder:

The latest macro and financial news confirm that the US is headed towards a hard landing â€“ specifically a serious recession - as a vicious circle of worsening real fundamentals is perversely interacting with severely worsening financial fundamentals and a severe liquidity and credit crunch: ...

... the US economy is at present being hit by three simultaneous shocks that threaten a nasty recession that will more than likely unleash strong deflationary forces. Those three shocks include the worst housing price bust since the Great Depression, the most severe credit crunch in the past 25 years, and international oil prices at US$90 a barrel. ...

WASHINGTON (Reuters) - Consumer spending rose at the fastest rate in more than two years in November and prices also climbed sharply, according to a government report on Friday that showed the economy on firmer ground than many had believed.

Adding to a picture of some resilience in the face of the housing downturn and a credit squeeze, consumer sentiment turned up in late December from mid-month even though it was down for the third month in a row.

The Commerce Department said consumer spending jumped 1.1 percent in November, well ahead of forecasts on Wall Street, while personal income rose 0.4 percent.

Our economy just has TOO much money...
The first depression was cause from having TOO little money...
This is why FDR took the country off of the gold standard... and outlawed private gold ownership... So they FED could print money and pay workers and such... boost the economy...
TODAY: we need STOP PRINTING MONEY AT WILL! IT IS RIDICULOUS

The first depression was cause from having TOO little money...
This is why FDR took the country off of the gold standard... and outlawed private gold ownership... So they FED could print money and pay workers and such... boost the economy...

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This is incorrect. The roaring 20's were fueled by quick and easy credit, facilitated by the FED. This started the recession, that led to the Depression.

Whenever there is too much credit in the system, the market will try to contract. This is normal, and how a balance is maintained.

But the monetary policies of the 20's created a massive bubble to burst, and when it did, it spiraled into the Depression.

You have to go back to the beginning and leadup to see the whole picture. The only reason FDR took us off the gold standard was so that the artificially contracted economy could be artificially revived through debt spending.

Home sales down 34 percent likely means there isn't excessive home flipping. I've seen it here in California where people buy house before they're built and sell them without moving in. So home sales being down should be take with a grain of salt, just like "foreclosure doubled" doesn't mean much when the number is near zero.

Meanwhile here at the epicenter of sub prime mortgage employment fall out, I keep getting all kinds of leads on jobs and when I have talked to a few they say they've hired a number of former mortgage people. Resilience!

so I should stop keeping my money in USD and change it for Euros ASAP I guess....

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No, I wouldn't put my money in Euros if I were you. The Euro is a paper currency that is not even backed by any nation state, it is the currency of the European Union, which is the first step towards a one world government. If you invest your dollars into Euros, you are essentially invested in a currency that was created by the secretive Bilderberg Group, an organization bent on world domination.

By getting Euros, you would be playing right into their hands. I would suggest investing in Gold and Silver, or the Swiss Franc, which is backed by gold.

No, I wouldn't put my money in Euros if I were you. The Euro is a paper currency that is not even backed by any nation state, it is the currency of the European Union, which is the first step towards a one world government. If you invest your dollars into Euros, you are essentially invested in a currency that was created by the secretive Bilderberg Group, an organization bent on world domination.

By getting Euros, you would be playing right into their hands. I would suggest investing in Gold and Silver, or the Swiss Franc, which is backed by gold.

A lot of people have been telling me to invest in Euros or the Yuan, but I ignore such advice. Any investment that is based on paper money is fair game in the global economy we live in today. I sleep well at night knowing that, if I should wake up to find that the U.S. dollar has collapsed, My assets would be protected for the simple fact that I invested in precious which have stood the test of time.

As this year draws to a close, there have been enormous battles in this forum about whether or not Gold and Silver is a good investment. But the truth is, anyone with common sense can see that a scarce metal that you need to mine is more valuable than paper, I mean, an elementary school kid could see this.

I believe the next big thing is silver. You never hear many people talking about it, even the hard money people spend more time talking about Gold. But as Milton Friedman indicated, Silver is truly more valuable. While silver is rock bottom cheap right now, all the evidence and data I've read suggests that Silver is going to go super nova over the next five years, and it is quite feasible that it could reach as high as $200 per ounce.

Do not be fooled by the current market price of Silver. I strongly believe that this value is not the true value of this metal, because there is nothing cheap about Silver other than the price. Since 1997, silver has more than quadrupled in value. I suspect that the same thing will occur between now and 2017.

The reasons for this is the decline of silver itself in the global market, we are running out of silver, and this means it will become even more scarce over time. Much of the silver we get today is a byproduct of mining gold. Nanotechnology researchers have even begun experimenting with Silver, so this shows you its true potential.

Looks like the Iranian President got his sums right this time when he insisted on oil for Euros.

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Chavez and Ahmadinejad want to get out of the dollar because the country behind the dollar, the United States, are antagonistic towards them. I also think that it is very likely that both presidents realize that petrodollars are the Achilles Heel of the U.S. economy.

Even if these countries cannot defeat the U.S. militarily, if they can encourage OPEC to switch to Euros rather than dollars, the dollar would suffer a dramatic fall. Sure, the U.S. could resort to using its reserves of oil, but I don't think these would be sufficient enough to stave off the shock the dollar would face, simply because the dollar has already been devalued by so much.

However, this is a very important thing to consider, and is also the reason why I won't invest in the Euro: because the Euro was designed to compete against the dollar with the aim of wiping out the American economy, a key goal of the Bilderberg group. By making the Euro the world reserve currency rather than the dollar, the dollar would be subject to collapse, the U.S. economy would fall, and then the Bilderberg would have us where they want us.

Yuan will definitely appreciate against the dollar, there is far too much pressure on all sides international and domestic, China had grown from an export nation towards a consumer nation. A hugh yuan will be of advantage to their consumers and would help narrow down the trade deficit with USA. China industries are also gearing towards higher technology and higher valued products, this in turn would cushion the impact of the rise in Yuan towards their exports.